PRINCIPLES OF ECONOMICS

Bachelors Degree in Financial Management

ECO 161

Breyer State University
Instructor: David M. Kolenich Ph.D, MBA, BBA, BS.

SYLLABUS

COURSE OVERVIEW: Welcome to Principles of Economics, a Bachelor Level course in the curriculum for the Degree, Bachelor of Financial Management. I am pleased to instruct you in this course, which will be a foundational course for the remainder of your studies in the bachelor program.

This is an exciting course, a course that explores the seemingly complex world of macroeconomics and microeconomics. But, as this course will soon demonstrate, economics doesn't have to be a complex and distant subject with a lot of math and graphs and charts, but rather it can a subject that can be useful and easy to understand. Basically, if you can add, subject, multiply, and divide, then you have fulfilled the math requirements for this course.

Ask anyone in business or finance or just about anyone who runs a business and they will agree that the world is in a state of constant motion. This globalization of the world can be good for a manager who understands how to use this constant state-of-motion to see the future and, thus, to develop an economic plan for the long-term health for his/her enterprise. Basically, this is what the course concentrates on: the process of trying to explain how an economy operates, and what it eats and what it breaths and where it walks and who drives the car.

I know you will enjoy this course. Please learn as much as you can as you progress through it, as it does lay down a solid foundation for the rest of the curriculum. It is my pleasure to have you in the course.

TIME FRAME: This is a five-semester hour course. This course is allotted ten weeks of time. You must complete all of the requirements for the course successfully by the end of the ten-week period. The first day of week one will begin the day that you register for the course, or the day which you notify me that your textbooks have arrived and you are ready to begin your studies. Please be cognizant of the time frame. It is rare that extensions of time are permitted, unless you have good justification. Upon successful completion of this course, you will be awarded five semester hours of credit.

TEXTBOOKS: There are two (2) required textbooks for this course.

Book 1: Economics Explained. By Robert Heilbroner And Lester Thurow. New York, NY; Touchstone Publishing: 1998. ISBN # 0-684-84641-1.

Book 2: Economics. By Steve Slavin Ph.D. New York, NY; John Wiley & Sons, Inc.: 1999. ISBN # 0-471-31752-7.

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EXAMINATIONS: There are two examinations for this course, a mid-term exam and a final exam. The mid-term exam covers the material in the book, "Economics Explained by Robert Heilbroner And Lester Thurow." The final exam covers the materials in the book, "Economics by Steve Slavin."

The mid-term examination must be taken by the end of the fifth week in the course.
The final examination must be taken by the end of the tenth week in the course.

Both exams are programmed and are located in the classroom for this course. The examinations are "open book" objective type. You will have one (1) day to complete your exam, once you access it from the classroom. To access the exams, you must send me an email and request to have access to the exam. Upon registration, you will receive my email address. I will then program your access in. You will receive an email back from me telling you that you are now authorized to go ahead and to access your exam. To access, you will come into the classroom, click on testing, and click on the exam you are taking. You will need your User ID and PASS WORD to access the exam. The exam will appear on your screen. Once you access the exam, you have one day to submit your answers. The program provides me the exact date and time that you accessed the exam. The program also notifies me of the exact date and time that you submitted your answers. Thus, the program is timing you. When you are ready, go back into the classroom and click in your responses and then click submit. Shortly, you will receive the exam in your email box with your computed score. You will also know what questions, if any, that you missed, and what the correct answer is. I also receive a copy of your exam and your score.

GRADING: The grading scale for this course is as follows:

90-100%    = A
80-89%      = B
70-79%      = C
Below 70% = Fail

COMMUNICATION: You are encouraged to communicate with me. I am available as a teacher, coach, and mentor to assist you in meeting your goals for this course. Primarily, communication is through email. However, I am also available for conversation by telephone if you would like. Our classroom for this course has a "chat" room. I am also very willing to meet with you one-on-one in the chat room at your request. From time to time, depending on how many students are enrolled in this course at a particular time, we will have some scheduled group chats. You will receive more detailed information at the time such chat sessions are scheduled. Please keep my email address handy so that you can contact me whenever necessary. If at any time during this course you change your email address, please be sure to notify me right away.

WRITTEN ASSIGNMENTS: There are no written assignments for this course. There is a considerable amount of reading involved in this course, and I would prefer you spend your time with the books learning the material.

ABOUT YOUR INSTRUCTOR: I, David M. Kolenich, Ph.D, MBA, BBA, BS., currently teach undergraduate and graduate courses at Breyer State University. I hold a Doctorate degree in Business Management, a Masters in Business Administration, a Bachelor of Science in Business Administration, and a Bachelor of Food Service Management. I have owned and operated my own restaurant, managed various other large volume restaurants and hotels, managed businesses related to the steel industry, bought and sold real-estate, and have been an officer in various labor relation committees for eight years. I have been an active handball player for over twenty years, winning many state and local tournaments. In 1987, I won the United States Handball Association's National "C" Crown. I am also an avid Table Tennis player, again, winning many tournaments. I am the author of two books, one in finance and one in fiction. Both are currently under review in New York.

I am Administrative Assistant to the President of Breyer State University, and the Dean of Faculty.

COURSE OBJECTIVES: Upon completion of this course, you will be able to:

1). Understand the breath and scope of economics.
2). Evaluate gross domestic product.
3). Understand weakness and strengths of globalization.
4). Learn what money is and how it works.
5). Understand economics of the public sector.
6). Understand how markets work and where they fail.
7). Understand and manipulating numbers.
8). Understand various economic resources.
9). Understand inflation and unemployment.
10). Learn effective monetary policy.
11). Understand modes of supply and demand.
12). Understand twentieth-century economic theory.
13). Understand deficits, surpluses, and balanced budgets.
14). Learn how changes in tax rates effect economic growth.
15). Understand variable, fixed, and total costs.

ASSIGNMENTS: For specific assignments, please click on the link "Assignments."

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